A210086 GLEAVES

 

OUT FROM SUBMISSION

 

Having heard argument regarding the Petition for Allowance of Compensation and Reimbursement of Costs to Guardian Ad Litem for Minor the now rules petitioner is entitled to fees in the amount of $20,632.00 and costs in the amount of $3,102.01.  The source from which these fees and costs are to be paid has not yet been identified and will be subject to determination after hearing or resolution of all other currently pending petitions in this matter.

 

A210210  GERNSTEIN FAMILY TRUST

 

 

THE COURT RULES ON THE ISSUES PRESENTED ON THE FINAL ACCOUNTING AS FOLLOWS:

 

1.  REIMBURSEMENT TO JACQUELINE KING OF ATTORNEY FEES IN THE AMOUNT OF $15,000 IS DENIED.  THIS REQUEST WAS CONSIDERED AND REJECTED PRIOR DURING THE TRIAL BEFORE JUDGE WATSON

 

2.  DISTRIBUTION OF A PORTION OF THE $24,000 RECEIVED FROM THE BANKRUPTCY TRUSTEE TO JACQUELINE KING IS DENIED.    THIS REQUEST WAS CONSIDERED AND REJECTED PRIOR DURING THE TRIAL BEFORE JUDGE WATSON.

 

3.  THE MANCHESTER DEED OF TRUST IS AN ASSET OF THE TRUST.  IT HAS NOT BEEN VITIATED THROUGH RUNNING OF ANY STATUTE OF LIMITATIONS.

 

4.  THE SURCHARGE ASSESSED AGAINST JACQUELINE KING BY JUDGE FELL IN THE AMOUNT OF $1,125 HAS NOT BEEN PAID AND WILL BE AN OFFSET AGAINST JACQUELINE KINGS DISTRIBUTIVE SHARE FROM THE TRUST.  NO INTEREST HAS ACCRUED TO THIS CHARGE.

 

5.  COSTS AWARDED TO JACQUELINE KING IN CONNECTION WITH THE APPEAL FROM THE ORDER OF JUDGE FRAZEE ON THE PETITION FOR INSTRUCTIONS ARE SET IN THE AMOUNT OF $1869.56.  THE TRUSTEE IS INSTRUCTED TO PAY THESE FUNDS FROM THE TRUST PRIOR TO OTHER DISTRIBUTIONS.

 

6.  SHELLEY KEYLOR OWES NO BACK RENT REGARDING HER OCCUPANCY OF THE LAKEWOOD HOME FOR A 14 MONTH PERIOD SPANNING 1994 AND 1995 PRIOR TO THE CREATION OF THE DISTRIBUTION AGREEMENT.

 

7.  THE SALE OF THE LAKEWOOD HOME WAS COMPLETED IN SUBSTANTIAL COMPLIANCE WITH THE ORDER OF JUDGE FRAZEE THAT IT BE SOLD WITHIN 6 MONTHS.  THE DELAY OF 28 DAYS PAST THE 6 MONTH PERIOD WAS OCCASIONED BY A STAY RESULTING FROM AN APPEAL BY JACQUELINE KING.  THE TRUSTEE DID NOT BREACH HIS FIDUCIARY DUTY.

 

8.  THE TRUSTEE’S ACTIONS HAVE BENEFITTED THE TRUST.  THE TRUSTEE WILL NOT BE SURCHARGED AND SHOULD BE COMPENSATED.  HOWEVER, THE FEES ALREADY PAID THE TRUSTEE HAVE BEEN SIGNIFICANT.  FURTHER, THE TRUST DOES NOT HAVE SIGNIFICANT ASSETS.  MUCH OF THE CORPUS HAS BEEN CONSUMED WITH TRUSTEE AND ATTORNEY FEES.  LITTLE IS LEFT FOR DISTRIBUTION TO THE BENEFICIARIES.  ADDITIONAL TRUSTEE FEES OVER AND ABOVE THE $20,625 PAID TO MR. CUMMINS THUS FAR ARE AWARDED IN THE AMOUNT OF $2,718.00.  ALL OTHER REQUESTS FOR TRUSTEE’S FEES ARE DENIED.

 

9.  THE TRUSTEE DID NOT BREACH HIS FIDUCIARY DUTY FOR SEEKING FEES RELATED TO THE APPEAL OF JUDGE FRAZEE’S RULING.

10.  JACQUELINE KING’S REQUEST TO REVIST JUDGE FRAZEE’S REFUSAL TO READ LATE FILED BRIEFS PRIOR TO COURT TRIAL IS DENIED.

 

11.  THE FINAL ACCOUNTING SUBMITTED BY TRUSTEE IS APPROVED.

 

12.  TRUSTEE’S REQUEST FOR INSTRUCTIONS TO REIMBURSE SHELLEY KEYLOR FOR RENT/PAYMENTS IN EXCESS OF HER LEGAL OBLIGATION IS APPROVED.   THE TRUSTEE IS ORDERED TO PAY MS. KEYLOR $18.491.59.  NO INTEREST SHALL BE INCLUDED.

 

13.  ATTORNEY’S FEES ARE APPROVED.  HOWEVER, ATTORNEY FEES ALREADY PAID HAVE BEEN SIGNIFICANT, LEAVING LITTLE OF THE TRUST CORPUS FOR DISTRIBUTION TO THE BENEFICIARIES.  ATTORNEY FEES HAVE ALREADY BEEN PAID IN THE AMOUNT OF $41,625.00.  ADDITIONAL ATTORNEY FEES ARE AWARDED IN THE AMOUNT OF $35,000.00.

 

14.  COSTS ARE APPROVED IN THE AMOUNT OF $402.04

 

15.  THE TRUSTEE IS ORDRED TO MAINTAIN A RESERVE IN THE AMOUNT OF $5,000.00

 

16.  THE TRUSTEE DID NOT BREACH HIS DUTIES BY SELLING THE LAKEWOOD PROPERTY AS ORDERED BY JUDGE FRAZEE. 

 

17.  THE MANCHESTER DEED OF TRUST WILL BE DISTRIBUTED IN EQUAL PARTS TO THE BENEFICIARIES.  THE COURT DOES NOT ORDER THE CALCULATION OR PAYMENT OF 8% INTEREST.  THE COURT FINDS THE VALUE OF THE DEED OF TRUST TO BE $50,000.00.

 

18.  ALL FEES AWARDED SHALL BE PAID FROM THE TRUST.  THERE WILL BE NO ALLOCATION OF FEES SPECIFICALLY AGAINST JACQUELINE KING’S OR SHELLEY KEYLOR’S DISTRIBUTIVE SHARES.